Alliance received a request to refinance an existing Multi-family Property located in MI.
The property contains 7 Buildings with a total of 32 Rental Apartments. One of the Buildings had burnt down and the Borrower was seeking money to rebuild that Building.
This deal had a few issues and our normal Lending Partner Group all passed on the deal so Alliance reached outside of our Group to locate funding for this deal. We believed there was a Lender who would listen to the story and we were able to find a Non-Traditional Lender who was interested and put together a group of Investors to fund the deal.
Hey all’s well that ends well!
Another closed loan for Alliance.